Budget 2018: GDP may grow 7.2-7.5% in second half of FY18; India on way to becoming 5th largest economy, says Arun Jaitley

New Delhi: Finance Minister Arun Jaitley said in his Union Budget 2018 speech that India is expected to register a growth rate of 7.2-7.5 percent in the second half of the current fiscal and is on way to becoming the 5th largest economy of the world. While unveiling the Budget 2018-19, he said, India has grown on an average of 7.5 percent in the first three years of the current government and has become a $2.5 trillion economy.

A file image of FM Arun Jaitley. PTI.

"We hope to grow at 7.2 to 7.5 percent in the second half of the current fiscal," Jaitley said in the Lok Sabha. India has already become 7th largest economy of the world, he said, adding that it is expected to become 5th largest economy soon.

As per the CSO estimate Indian economy is expected to grow at 6.5 percent in the current fiscal, ending 31 March. For 2018-19, the economy is likely to grow at 7-7.5 percent as per the Economic Survey tabled in Parliament earlier this week. GDP growth in first quarter of 2017-18 had moderated to 5.7 percent, the lowest in the three years. In the second quarter, it recovered to 6.3 percent.

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